Market Analysts see Pure Storage Inc. [PSTG] gaining to $36. Time to buy?

Pure Storage Inc. [NYSE: PSTG] gained 2.98% on the last trading session, reaching $27.66 price per share at the time. The company report on September 21, 2022 that Pure Storage Extends Leadership in Sustainability, Helping Customers Make Significant Strides on Their Environmental Journey.


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Pure expands environmental analysis across its full product portfolio; Pure1 Sustainability Assessment introduced to help customers measure and manage their energy use.

Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced advancements in its sustainability efforts, helping customers dramatically reduce their energy use and environmental footprint.

Pure Storage Inc. represents 297.48 million in outstanding shares, while the company has a total market value of $8.34 billion with the latest information. PSTG stock price has been found in the range of $26.72 to $27.72.

If compared to the average trading volume of 3.20M shares, PSTG reached a trading volume of 3489197 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Pure Storage Inc. [PSTG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSTG shares is $39.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSTG stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $34 to $27. The new note on the price target was released on May 20, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $36, while UBS analysts kept a Neutral rating on PSTG stock. On March 03, 2022, analysts increased their price target for PSTG shares from 37 to 40.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.03, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.29. The Price to Book ratio for the last quarter was 10.80, with the Price to Cash per share for the same quarter was set at 4.52.

Trading performance analysis for PSTG stock

Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.33. With this latest performance, PSTG shares dropped by -7.09% in over the last four-week period, additionally sinking by -23.17% over the last 6 months – not to mention a rise of 5.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSTG stock in for the last two-week period is set at 45.22, with the RSI for the last a single of trading hit 46.29, and the three-weeks RSI is set at 46.24 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 28.91, while it was recorded at 26.67 for the last single week of trading, and 28.66 for the last 200 days.

Pure Storage Inc. [PSTG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Pure Storage Inc. [PSTG] shares currently have an operating margin of -4.51 and a Gross Margin at +67.52. Pure Storage Inc.’s Net Margin is presently recorded at -6.57.

Return on Equity for this stock declined to -19.05, with Return on Assets sitting at -4.81.

Pure Storage Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Pure Storage Inc. [PSTG]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pure Storage Inc. go to 31.76%.

An analysis of insider ownership at Pure Storage Inc. [PSTG]

There are presently around $6,875 million, or 85.00% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 36,316,619, which is approximately 9.804% of the company’s market cap and around 3.80% of the total institutional ownership; VANGUARD GROUP INC, holding 27,715,902 shares of the stock with an approximate value of $766.62 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $472.98 million in PSTG stock with ownership of nearly -6.669% of the company’s market capitalization.

Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 204 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 23,734,632 shares. Additionally, 195 investors decreased positions by around 21,107,222 shares, while 61 investors held positions by with 203,701,643 shares. The mentioned changes placed institutional holdings at 248,543,497 shares, according to the latest SEC report filing. PSTG stock had 66 new institutional investments in for a total of 4,289,004 shares, while 65 institutional investors sold positions of 2,990,692 shares during the same period.

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